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Side-by-side financial comparison of Essex Property Trust (ESS) and Spectrum Brands Holdings, Inc. (SPB). Click either name above to swap in a different company.

Spectrum Brands Holdings, Inc. is the larger business by last-quarter revenue ($677.0M vs $479.6M, roughly 1.4× Essex Property Trust). Essex Property Trust runs the higher net margin — 17.9% vs 4.2%, a 13.7% gap on every dollar of revenue. On growth, Essex Property Trust posted the faster year-over-year revenue change (5.5% vs -3.3%). Over the past eight quarters, Essex Property Trust's revenue compounded faster (6.0% CAGR vs -2.9%).

Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.

Spectrum Brands Holdings, Inc. is an American multinational consumer products conglomerate headquartered in Middleton, Wisconsin. It was established in 2005 as the successor to Rayovac Corporation.

ESS vs SPB — Head-to-Head

Bigger by revenue
SPB
SPB
1.4× larger
SPB
$677.0M
$479.6M
ESS
Growing faster (revenue YoY)
ESS
ESS
+8.8% gap
ESS
5.5%
-3.3%
SPB
Higher net margin
ESS
ESS
13.7% more per $
ESS
17.9%
4.2%
SPB
Faster 2-yr revenue CAGR
ESS
ESS
Annualised
ESS
6.0%
-2.9%
SPB

Income Statement — Q4 FY2025 vs Q1 FY2026

Metric
ESS
ESS
SPB
SPB
Revenue
$479.6M
$677.0M
Net Profit
$85.7M
$28.4M
Gross Margin
70.0%
35.7%
Operating Margin
31.7%
4.0%
Net Margin
17.9%
4.2%
Revenue YoY
5.5%
-3.3%
Net Profit YoY
-71.6%
20.9%
EPS (diluted)
$1.24
$1.21

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
ESS
ESS
SPB
SPB
Q4 25
$479.6M
$677.0M
Q3 25
$473.3M
$733.5M
Q2 25
$469.8M
$699.6M
Q1 25
$464.6M
$675.7M
Q4 24
$454.5M
$700.2M
Q3 24
$450.7M
$773.8M
Q2 24
$442.4M
$779.4M
Q1 24
$426.9M
$718.5M
Net Profit
ESS
ESS
SPB
SPB
Q4 25
$85.7M
$28.4M
Q3 25
$172.7M
$55.6M
Q2 25
$231.5M
$19.9M
Q1 25
$212.8M
$900.0K
Q4 24
$301.7M
$23.5M
Q3 24
$125.5M
$28.5M
Q2 24
$99.0M
$6.1M
Q1 24
$285.1M
$61.1M
Gross Margin
ESS
ESS
SPB
SPB
Q4 25
70.0%
35.7%
Q3 25
69.2%
35.0%
Q2 25
70.7%
37.8%
Q1 25
69.6%
37.5%
Q4 24
70.0%
36.8%
Q3 24
69.5%
37.2%
Q2 24
70.8%
38.9%
Q1 24
69.7%
38.1%
Operating Margin
ESS
ESS
SPB
SPB
Q4 25
31.7%
4.0%
Q3 25
44.5%
4.0%
Q2 25
59.5%
4.5%
Q1 25
55.3%
2.9%
Q4 24
67.0%
6.4%
Q3 24
28.6%
2.8%
Q2 24
31.1%
6.1%
Q1 24
31.0%
10.6%
Net Margin
ESS
ESS
SPB
SPB
Q4 25
17.9%
4.2%
Q3 25
36.5%
7.6%
Q2 25
49.3%
2.8%
Q1 25
45.8%
0.1%
Q4 24
66.4%
3.4%
Q3 24
27.8%
3.7%
Q2 24
22.4%
0.8%
Q1 24
66.8%
8.5%
EPS (diluted)
ESS
ESS
SPB
SPB
Q4 25
$1.24
$1.21
Q3 25
$2.56
$2.19
Q2 25
$3.44
$0.80
Q1 25
$3.16
$0.03
Q4 24
$4.00
$0.84
Q3 24
$1.84
$1.03
Q2 24
$1.45
$0.21
Q1 24
$4.25
$2.01

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ESS
ESS
SPB
SPB
Cash + ST InvestmentsLiquidity on hand
$76.2M
$126.6M
Total DebtLower is stronger
Stockholders' EquityBook value
$5.5B
$1.9B
Total Assets
$13.2B
$3.4B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ESS
ESS
SPB
SPB
Q4 25
$76.2M
$126.6M
Q3 25
$66.0M
$123.6M
Q2 25
$58.7M
$122.0M
Q1 25
$98.7M
$96.0M
Q4 24
$66.8M
$179.9M
Q3 24
$71.3M
$368.9M
Q2 24
$55.2M
$306.8M
Q1 24
$499.0M
$1.2B
Total Debt
ESS
ESS
SPB
SPB
Q4 25
Q3 25
$6.4B
$496.1M
Q2 25
$6.4B
Q1 25
$6.8B
Q4 24
Q3 24
$6.4B
$496.1M
Q2 24
$6.2B
Q1 24
$6.6B
Stockholders' Equity
ESS
ESS
SPB
SPB
Q4 25
$5.5B
$1.9B
Q3 25
$5.6B
$1.9B
Q2 25
$5.6B
$1.9B
Q1 25
$5.6B
$1.9B
Q4 24
$5.5B
$2.0B
Q3 24
$5.4B
$2.1B
Q2 24
$5.5B
$2.1B
Q1 24
$5.5B
$2.3B
Total Assets
ESS
ESS
SPB
SPB
Q4 25
$13.2B
$3.4B
Q3 25
$13.2B
$3.4B
Q2 25
$13.2B
$3.5B
Q1 25
$13.2B
$3.5B
Q4 24
$12.9B
$3.6B
Q3 24
$12.6B
$3.8B
Q2 24
$12.5B
$3.8B
Q1 24
$12.9B
$4.8B
Debt / Equity
ESS
ESS
SPB
SPB
Q4 25
Q3 25
1.15×
0.26×
Q2 25
1.14×
Q1 25
1.22×
Q4 24
Q3 24
1.18×
0.23×
Q2 24
1.13×
Q1 24
1.19×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ESS
ESS
SPB
SPB
Operating Cash FlowLast quarter
$1.1B
$67.4M
Free Cash FlowOCF − Capex
$59.3M
FCF MarginFCF / Revenue
8.8%
Capex IntensityCapex / Revenue
1.2%
Cash ConversionOCF / Net Profit
12.53×
2.37×
TTM Free Cash FlowTrailing 4 quarters
$302.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ESS
ESS
SPB
SPB
Q4 25
$1.1B
$67.4M
Q3 25
$342.6M
$171.1M
Q2 25
$216.1M
$81.8M
Q1 25
$281.5M
$23.1M
Q4 24
$1.1B
$-72.4M
Q3 24
$316.2M
$80.7M
Q2 24
$218.9M
$82.7M
Q1 24
$314.9M
$3.5M
Free Cash Flow
ESS
ESS
SPB
SPB
Q4 25
$59.3M
Q3 25
$157.9M
Q2 25
$71.8M
Q1 25
$13.9M
Q4 24
$-78.3M
Q3 24
$67.7M
Q2 24
$72.6M
Q1 24
$-9.0M
FCF Margin
ESS
ESS
SPB
SPB
Q4 25
8.8%
Q3 25
21.5%
Q2 25
10.3%
Q1 25
2.1%
Q4 24
-11.2%
Q3 24
8.7%
Q2 24
9.3%
Q1 24
-1.3%
Capex Intensity
ESS
ESS
SPB
SPB
Q4 25
1.2%
Q3 25
1.8%
Q2 25
1.4%
Q1 25
1.4%
Q4 24
0.8%
Q3 24
1.7%
Q2 24
1.3%
Q1 24
1.7%
Cash Conversion
ESS
ESS
SPB
SPB
Q4 25
12.53×
2.37×
Q3 25
1.98×
3.08×
Q2 25
0.93×
4.11×
Q1 25
1.32×
25.67×
Q4 24
3.54×
-3.08×
Q3 24
2.52×
2.83×
Q2 24
2.21×
13.56×
Q1 24
1.10×
0.06×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

ESS
ESS

Segment breakdown not available.

SPB
SPB

HPC Segment$321.5M47%
Global Pet Supplies$168.7M25%
Home And Personal Care$109.8M16%
HG Segment$73.9M11%

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